Is 55301, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 55301 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 55301 was a Seller's Market.

Key Takeaway

55301 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 55301, MN

How much do homes in 55301, MN cost?

Median Sold Price

$368,700

$180/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$1,450(+0.4%)

Key Takeaway

The sold price of homes in 55301 has remained the same since last year.

Summary: The median home sold price in 55301 was $368,700 in October 2024, up 0.4% from last year, and the median price per square foot was $180.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $255K$265K
+3.9%
3 $335K$350K
+4.5%
4 $430K$399.9K
-7.0%
5+ $450K$472.9K
+5.1%

Summary: 55301 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 4.5%, 4 bedroom homes decreased by 7%, and 5+ bedroom homes increased by 5.1%.

Median Sold Price Compared To Nearby Zip Codes

55330
+2.6%
55362
+2.3%
55301
0.4%
55376
-2.1%

Housing Supply in 55301, MN

How many homes are available in 55301, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5155+7.8%

Summary: The 55301 real estate market had 55 homes for sale in October 2024, a 7.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1010
0.0%
3 1717
0.0%
4 1721
+23.5%
5+ 77
0.0%

Summary: The 55301 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
118-27.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 55301, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in 55301 in October 2024, down by 27.3% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and 25% were sold over asking.

Days on Market for 55301, MN

How long does it take to sell a home in 55301, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
18 Days31 Days+72.8%

Summary: Homes in 55301 had an average of 31 days on market in Oct 2024, up by 72.8% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 55301 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 8 homes were sold in 55301; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 55301, MN

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